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Pancon Provides Exploration Update for Its Montcalm West Nickel-Cobalt-Copper Project in Ontario
Toronto, Ontario--(Newsfile Corp. - July 23, 2018) - Pancontinental Resources Corporation (TS...
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[{"type":"text","content":"Pancon Provides Exploration Update for Its Montcalm West Nickel-Cobalt-Copper Project in OntarioToronto, Ontario--(Newsfile Corp. - July 23, 2018) - Pancontinental Resources Corporation (TSXV: PUC) (\"Pancon\" or the \"Company\") provides an update on exploration activities at the Company's early-stage nickel-cobalt-copper Montcalm West Project near Timmins. The Montcalm West Project covers 11,600 hectares and is comprised of three separate Properties: Montcalm, Nova and Gambler. Montcalm West is adjacent to Glencore's former Montcalm Mine, which previously mined 3.9 million tonnes of Ni-Co-Cu ore and produced more than 4 million pounds of cobalt.Exploration Highlights: Montcalm Property: Completion of a state-of-the-art Virtual Time Domain Electromagnetic (VTEM) survey over the gabbroic phase of intrusive, same lithological unit hosting former mine.In process of contracting Gedex's new High-Definition Airborne Gravity-Gradiometer (HD-AGG®) technology to be flown over the same area as the VTEM survey.The VTEM results combined with the Gedex airborne gravity data will be analyzed to define drill targets for Pancon's upcoming winter drill program.Nova Property: 6.4 km of flagged grid lines were completed and 231 mobile metal ion (MMI) soil samples were collected for analysis.Surface prospecting currently ongoing with a total of 59 surface rock samples already submitted for multi-element analysis.\"We are encouraged by the work that has been conducted on the Montcalm West Project thus far,\" said Layton Croft, Pancon's President and Chief Executive Officer. \"Market demand for battery metals, including cobalt and nickel, remains strong. In Q3, we intend to secure drill permits so that we can begin drilling on both Montcalm and Nova starting this winter.\" Montcalm West - Montcalm Property:The Montcalm Property (3,780 hectares) is contiguous to and surrounds the western. north-western and south-western portion of the former Montcalm Mine, which previously mined 3,931,610 tonnes of ore grading 1.25% nickel (Ni), 0.67% copper (Cu), and 0.051% cobalt (Co), producing in excess of 4 million pounds of Cobalt (Ontario Geological Survey, Atkinson, 2011). The Nova Property (840 hectares) is located approximately 19 kilometres southwest of the Montcalm Mine. Pancon has recently completed a state-of-the-art Virtual Time Domain Electr...